Funded FinTechs Look To Get More Capital In The Hands Of SMBs

Whether through embedded lending, small business credit cards or trade finance portals, this week’s newly funded B2B FinTechs are largely looking to get more capital into the hands of companies. But it was a challenger bank targeting SMBs that landed the top spot with its $100 million funding round.

Velotrade

Hong Kong-based Velotrade has secured a partnership with its latest investor, Vynn Capital. While the companies did not disclose how much Velotrade raised, a press release said that Velotrade will collaborate with Vynn Capital on scaling its corporate trade finance platform throughout Southeast Asia and invest in its infrastructure.

Dinie

Small business finance FinTech Dinie, based in Brazil, raised $3.8 million in seed funding, a press release announced. Dinie focuses on embedded finance, allowing third parties to integrate small business financing capabilities within their own systems. Accion Venture Lab and K50 Ventures led the round, Dinie said, while Flourish Ventures, Domo Invest and Tribe Capital also participated. The firm said it will use the funding to invest in its API and its small business finance infrastructure to reach more platforms, including eCommerce portals.

Float

Canada’s Float offers a commercial card and spend management product for startups and small businesses. Now, investors at Susa Ventures and Golden Ventures have led a $4 million seed round for the firm. Tiny Capital, Garage Capital and Global Founders Capital also participated, while Silicon Valley Bank tacked on $1 million in debt as well. Reports in BetaKit said that Float plans to invest the funds in product development, growth and new hires.

Marco Financial

Miami’s Marco Financial helps small and medium-sized businesses (SMBs) across Latin America access the funding they need to conduct trade. Investors at Arcadia Funds LLC and Kayyak Ventures have led a $7 million seed round coupled with a $75 million credit facility for the firm. The invoice finance FinTech plans to use the funding to streamline its cross-border payments capabilities, risk mitigation and unstructured data management effort. Other backers included Village Capital VC, Flexport Ventures, Tresalia Capital, 342 Capital, Stuck Capital, Antler LLC, Antler Eleveate, Florida Funders, Fox Ventures and Arpegio – Venture Capital, as well as angel investors, TechCrunch said.

Proper

PropTech startup proper announced a $9 million Series A round for its accounting technology designed for the real estate industry. In its press release, the San Francisco-based firm said the investment will go toward further development and automation of its accounting tool, as well as to finance the creation of a new customer-facing portal and add new members to its team. Proper noted that QED led the round, while MetaProp, Expa and Bling Capital also participated.

Tinvio

Singapore’s Tinvio offers SMBs a chat-based platform for firms to conduct trade by sending and receiving orders. The B2B commerce solution caught the attention of AppWorks Ventures, which recently led a $12 million Series A investment round. MUFG Innovation Partners, as well as existing backers Sequoia Capital India’s Surge, Global Founders Capital and Partech Partners, also participated, TechAsia reported. Tinvio said it will use the funding to introduce financial services for SMB users, including real-time payments and credit.

SecurEnds

Corporate cybersecurity unit SecurEnds raised $21 million in Series A funding, the Atlanta startup said in a press release. The firm offers businesses technology to automate user access, access requests, entitlement audits and segregation of duty to protect sensitive data and reduce audit costs. The firm said it will use the funding to scale and invest in product development as well as to expand into new geographic markets throughout Europe and Asia. Investors at Elephant provided the funding.

Billd

Designed for the construction industry, Billd provides commercial financing solutions to support cash flow down the industry’s supply chains and ease the pain of delayed B2B payments. LL Funds led the firm’s $30 million funding round, while RJT Credit and Ulysses Management also participated. Billd plans to use the investment to expand its product offerings and strike strategic partnerships with other construction-focused technology platforms.

Railsbank

The $70 million in fresh funding for Railsbank will help the FinTech focus on embedded finance offerings. The company said on its website that Anthos Capital led the round, while Central Capital, Cohen and Company, and Outrun Ventures, as well as existing backers, all participated. Railsbanks’ Banking-, Cards- and Credit-as-a-Service offerings, which enable third parties to embed small business and consumer financial services into their own platforms, will receive the focus of the investment as the firm looks to expand across Europe, the Asia Pacific region and North America.

Tide

The week’s largest funding round goes to U.K. challenger bank Tide, which raised $100 million in fresh funding. The firm’s valuation is now at about $650 million, reports said. The small business financial services FinTech secured the investment from Apax Digital Fund, while existing investors Anthemis, Augmentum, Jigsaw, Local Globe / Latitude, SBI and SpeedInvest also participated. The oversubscribed Series C round will go toward international expansion and further traction of its business financial platform, the company said.